Its meant to attract small fish which then attract larger predatory fish which are the fish you want to catch. I’m not sure what those are in your area. Spanish mackerel? The triangle thing is lead so its not great to just throw away. I would suggest just giving to to anyone you see fishing as they can just reuse it. Cut the yellow line away(that’s plastic which can be recycled but its worthless) and just leave the whole rig somewhere where people fish. Someone will take it and use it. Finding and losing gear is part of fishing.